On January 24, 2025, Solana's total value locked (TVL) surged from $1.4 billion to $9.77 billion, marking an impressive increase of approximately 600% over the past year. This growth was significantly driven by the launch of the TRUMP token on January 17, which has generated over $11 billion in trading volume since its introduction.
Solana is now processing around 300 million transactions daily and has surpassed 4 million active addresses. The leading decentralized exchange (DEX) on Solana, Raydium, contributed $2.59 billion to the total TVL. Daily transaction fees peaked at a record $33.3 million on Sunday.
Despite this remarkable expansion, Solana's TVL remains smaller than Ethereum's $68 billion, indicating further growth potential. Meme coins like TRUMP have significantly influenced this momentum, with trading platforms recording a 24-hour swap volume of $5.6 billion, over $4 billion of which was linked to TRUMP trading pairs.
Solana's infrastructure continues to attract developers and users, establishing it as a preferred platform for new projects. Although it faces challenges in competing with Ethereum's dominance in the DeFi space, Solana's recent growth highlights its potential for further development and adoption in the evolving blockchain ecosystem.